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Cap 1 two personal cards rule solution?

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New Contributor

Cap 1 two personal cards rule solution?

Hello I have one cap 1 personal card and quicksilver card. I'm thinking of canceling the quicksilver since I hardly use it. Once it's closed, does that mean I can pick up another personal card such as the current 100k miles venture card? If yes, how much time I should wait before applying? I also have two business cards with them but it's my understanding those don't count against the 2 cards rule.

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Community Leader
Super Contributor

Re: Cap 1 two personal cards rule solution?

Yes, you could. I'd wait 6-12 months before applying for that new card. What's the "personal" card though? Did you mean Platinum?


Last App: 8/24/2020
NFCU Secured Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 2 of 15
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New Contributor

Re: Cap 1 two personal cards rule solution?

Yes the platinum card. Low CL but that's my oldest and first ever card, so don't want to cancel it. Unless I can upgrade to something else that's useful! 

back to the subject, I hope that 100k miles is still around for another 6 months 😂

Message 3 of 15
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Community Leader
Super Contributor

Re: Cap 1 two personal cards rule solution?

You can check for an upgrade on your platinum here: https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

 

And well, you can try re-applying maybe in 3 months if you'd like. I was just suggesting waiting a bit longer to maybe put more time between the closure and a new app.


Last App: 8/24/2020
NFCU Secured Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 4 of 15
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Regular Contributor

Re: Cap 1 two personal cards rule solution?

Secured, Platinum, QuicksilverOne and *maybe* Walmart and BuyPower don't count towards the 2 card rule.  Venture, Savor, and QuickSilver do.

 

I have the QuicksilverOne, Platinum, and BuyPower.

TFCU Plat Visa $12,500 | PenFed Platinum Rewards $10,000 | Synchrony Premier MC $8,000 | NFCU MoreRewards $1,000 | Purdue FCU $5,000 | Capital One BuyPower $750 | Capital One QuickSilverOne $600 | Capital One QuickSilver $1,000 | Merrick Bank $2,700 | Credit One $1,200 | Amazon Prime Card $5,000 | Walmart Store Card $1,400 | B&H Payboo Card $7,500 | Shell Gas Card $1,200 | Overstock Store Card $3,850 | Kohl's Store Card $1,500 | Comenity MasterCard $1,180 | Target RedCard $2,000
Message 5 of 15
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New Contributor

Re: Cap 1 two personal cards rule solution?


@rostrow416 wrote:

Secured, Platinum, QuicksilverOne and *maybe* Walmart and BuyPower don't count towards the 2 card rule.  Venture, Savor, and QuickSilver do.

 

I have the QuicksilverOne, Platinum, and BuyPower.


Oh to confirm, are you saying that my platinum doesn't count against two cards rule? I do have quicksilver so that's 1. 

Message 6 of 15
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Regular Contributor

Re: Cap 1 two personal cards rule solution?

The two card rule applies to their starter cards- platinum, journey, and quicksilver one I think. 

 

You can only have up to two of those. You can have up to 5 total Capital One cards. This is according to the terms stated when applying for their other cards like Savor, Venture, and Walmart card. I have three Capital One cards.

Message 7 of 15
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Established Contributor

Re: Cap 1 two personal cards rule solution?


@quantum001 wrote:

The two card rule applies to their starter cards- platinum, journey, and quicksilver one I think. 

 

You can only have up to two of those. You can have up to 5 total Capital One cards. This is according to the terms stated when applying for their other cards like Savor, Venture, and Walmart card. I have three Capital One cards.


+1. You do not need to close any cards to apply for the Venture. 


FICO 8 11/20: EX 747 EQ 746 TU 732
"Friends don't let friends earn 1% cash back."
Message 8 of 15
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Frequent Contributor

Re: Cap 1 two personal cards rule solution?

Just looked at the offer:

100,000 miles SUB with $20,000 spend in 12 months.  (I know we would never be able do that.)

 

Looking forward to see you get this SUB @ficomember !

 

Message 9 of 15
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Community Leader
Super Contributor

Re: Cap 1 two personal cards rule solution?


@NoMoreE46 wrote:

Just looked at the offer:

100,000 miles SUB with $20,000 spend in 12 months.  (I know we would never be able do that.)

 

Looking forward to see you get this SUB @ficomember !

 


That sounds like a lot, but it comes out to only about $1667 a month. If you factor in car insurance, homeowners insurance (maybe), groceries, dining, entertainment, gas, and perhaps rent if one could manage to work that in there, it wouldn't be too bad. Basically using it as a daily driver for a year. I suppose it largely depends on one's income and monthly expenses.


Last App: 8/24/2020
NFCU Secured Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


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